Ethereum ETF Records $800M—Is ETH Poised for $5,000?

• BlackRock’s Ethereum (ETH) ETF (ETHA) dominates the market with a $800 million inflow in five trading sessions.
• Ethereum has also surged above the $4000 level, and analysts predict the asset will hit more than $15,000 by May 2025. 

Ethereum (ETH) has officially crossed the $4000 line after surging by 8.2% on the weekly price chart and 48% on the monthly price chart. Fascinatingly, this happens as a significant amount of inflows move into the US Ether ETF market to reach over $2.6 billion in net Inflows.

Analyzing the market, we discovered that BlackRock Ethereum ETF (ETHA) had dominated the market as it recorded the highest-ever daily inflow of $292 million on Thursday, December 5. ETHA also pushed the total inflows singlehandedly, as it recorded $800 million in the past five trading sessions, according to data. Currently, the BlackRock’s ETH ETF holds 837.5K ETH ($3.27 billion).

Assessing the general market activities, we found that all US Ether ETFs moved above the $1 billion line for the first time. Commenting on this, the President of ETF Store, Nate Geraci, lauded the historic milestone as the Industry attained this feat despite its lack of staking capabilities, no options trading, almost $3.5 billion outflows, no in-kind creation/redemption, and limited access to a major wirehouse.

Amidst the backdrop of the ETF boom and the ETH price ascension, the asset has recently dealt with massive selling activities as Tron founder Justin Sun continues to offload his stash of ETH holding. Earlier, Sun sold 20,000 ETH ($76 million) on HTX. According to data, Sun has offloaded a total of 41,630 ETH ($145.9 million). This includes the 39,000 ETH ($137 million) moved to HTX, and the 2,630 ETH ($8.76 million) moved to Poloniex. Based on available data, his average purchase price was $3,505.

Other Whales Offload Ethereum (ETH), Analyst Expects Asset to Hit $15,000

Apart from Sun, other whales have been actively selling their ETH. A recent post by Whale Alert shows that 9,011 ETH ($35.34 million) was transferred from an unknown wallet to Coinbase. Amid the backdrop of this, the asset is testing the upper boundary of a massive triangle formation. According to 10x Research, this signifies a bullish outlook. Per the analysis, ETH is in line to hit $4,092 and advance towards the $4,812 all-time high price.

Currently, the Ethereum Open Interest (OI) has increased by 9.34%. Meanwhile, $89 million in liquidations have also been witnessed in the last 24 hours. Out of this, $60 million was in short positions and $29 million in long positions.

According to Ali Martinez, Ethereum’s network activities have also reached a significant height as more than 134,000 new addresses continue to be created daily.

Source: Ali Martinez

Subjecting the asset to critical analysis, an analyst identified as Jelle has disclosed that a successful breach of the March high would imply that ETH would not have a long consolidation period before breaching the all-time high price.

For a renowned crypto analyst Venturefounder, ETH is approaching a breakout from a three-year-long triangle consolidation pattern. Additionally, the asset could break out of a seven-year trading range to imitate the 2016-2017 price behavior. In this case, ETH could hit $15,937 by May 2025, according to Venturefounder.

Source: Venturefounder

Recommended for you:

• Buy Ethereum Guide
• Ethereum Wallet Tutorial
• Check 24-hour Ethereum Price
• More Ethereum News
• What is Ethereum?